BTCXindia Review – How to Buy XRP using INR in india?

Ripple is an internet protocol based currency used by a bank to send money over the internet, anywhere in the world. Ripple is developed by ripple labs to connect the world on, one single exchange.

XRP help bank to full fills the exchange demand of society. In simple word, we can say that a ripple is world first cryptocurrency used for the universal translator of money.

You can exchange money with Bitcoin, Zcash, altcoins and ripple. XRP is a value which used for exchange. Then question arised, how to buy ripple?

There are many sites which offer to buy and sell ripple But for this post, we only discuss about BTCXindia.

What is BTCXindia?

Finally, india launched their first cryptocurrencies exchange site in 5th may, 2014. It is world fourth most funded startup cryptocurrency site in the world.

BTCXindia is managed by S Capital Solutions Pvt. Ltd. The main office of btcx is situated in Hyderabad. But due to sudden problem and legality, it was shutdown but again it was started by Kamesh Mupparaju.

“We stopped trading functions to integrate Ripple technology to trade XRP. We are launching an integrated exchange that will allow users to trade in bitcoin, ethereum and XRP all through one user account,” Mupparaju said in a telephone interview.

Ripple confirmed the news. “We are pleased that customers in India now have a way of accessing XRP. With its listing on btcxchange, the digital asset is now available to this Sell and fast-growing market,” said Miguel Vias, Head of XRP Markets.

BTCXindia allows Indian citizen to buy & sell bitcoin in INR. At the time of writing this post, the average amount of XRP is 16.5.

Who can use BTCXindia?

People with the age of 19 plus can use btcxindia. Pan card is compulsory for exchange.

You have to upload your scan copy of id proof, address proof. The quality of signature pic should be identifiable. All document size should less than 2 MB.

What is the fee?

BTCXindia charges 1% of buy or sells amount including tax.

Transfer from one wallet to other or via NEFT, RTGS and IMPS are free of charge.

As we know ripple wallet is not free, there for you have to pay 20XRP for wallet address. At a time with one account you can only hold one wallet address, which is a major drawback.

It may happen, you will deposit your INR but it is not showing in your wallet. BTCXindia does not allow 24/7 exchange service. All transactions reflect in an account in between 8 am to 8 pm(Monday to Saturday).

NEFT and IMPS transaction take 2 working days.

How to buy XRP using BTCXindia?

With a minimum amount of 100 XRP, you can start trading XRP trough btcx. The main problem with BTCXindia is they not accept UPI, credit/debit card transaction, cash deposit. You have only option that is NEFT/IMPS through you registered account.

Buyer and seller trade their XRP with fixable amount. BTCXindia charges only 1% per transaction.

Copy your client id from login details and click on generate dynamic accesses code. One unique code is generated by site every time you login to site and sent to your email id and phone number. Copy this code and paste in your login page and click on “secure login”.

Now click on “online KYC form”.

Click on next.

Upload all the details including passport photo and pan card as identity proof. Click on next.

Now fill all details of your address including scan copy of address proof. Click on next.

Upload your bank details and click on next.

Fill your annual income details in site and click on next.

This is the final step where you have to upload your signature. The size of scan copy should be less than 2 MB. Click on preview and check all the details. If every thing is fine-bitcoin then click on submit.

Trade and sell:

After verification process, you can start trading and selling XRP.

Click on “wallet”.

Choose the option in between buy & sell.

Made payment and done.

You have to make payment via registered account.

Conclusion

Ripple is great way of exchanging your ripple throughout the world. Choosing BTCXindia for buying and selling XRP in India is good option.

Verification process is too lengthy but overall,btcxidia offer you great deal on XRP. You can easily buy new XRP with others with 1% of the reasonable fee.

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Mahesh Chaube

Hey,
This is Mahesh Chaube, computer Engineer by Education and Crypto Blogger by Profession From Mumbai. Here at coinraja i write about money making and Reviews on Cryptocurrency Related Thing. I hope you are enjoying My post.
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